Word: kung
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Dates: during 1930-1939
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...translations of his speeches. He consults her in all things and it was she who drew him into the Christian faith (TIME, Nov. 3, 1930). Last week Mme Chiang, her brother T. V. Soong, who is the financial kingpin of China, and her brother-in-law, Dr. H. H. Kung, who took on the functions of Premier in China's awful emergency, held the destiny of Eastern Asia in their hands. One false move, they knew, might alter the course of world history to China's disadvantage, and yet what moves could they make...
...Donald." This was not to say that Kidnappee Chiang, Kidnapper Chang, Financier Soong and Acting-Premier Kung were engaged in emulating the example set fortnight ago by the Rt. Hon. Stanley Baldwin when he eased King Edward from the Throne while loudly protesting that what he had done was to try to keep His Majesty on (see p. 16). In Britain it is the simple solution which is always sought and usually found. In China nothing so takes the bloom off a proposed solution, nothing makes a Chinese statesman so unwilling to bite on it, as simplicity. There could...
...seized and perhaps manufactured at just the right moment an incident only to be ended by gunfire and aerial bombs. But there was also another hypothesis worthy of the Araki Brothers in their calmer moments. When all China was taken off the silver standard fortnight ago by Finance Minister Kung, he threatened to prosecute for treason any Chinese who did not send his white metal to the Government's banks. If that threat works it means, among other things, that the Japanese forces now predominant in North China will see all their silver slip through their fingers to Nanking...
...days after three bullets put the Premier of China to bed (see above), Acting Premier & Finance Minister Dr. H. H. Kung abruptly "Nationalized" the age-old basis of Chinese money, silver. Chinese could still hoard all the gold they pleased, but Dr. Kung made it treason for Chinese to hold silver which he ordered into the Government's banks. To a nation that has never had any great confidence in paper, the Chinese Government decreed that its paper is legal tender and not redeemable in either silver or gold...
Significance. As Dr. Kung warned Washington last spring, President Roosevelt's jacking up of the world price of silver (TIME, April 22) could only disorganize the price structure of China and drive her off the silver standard. The question was last week whether Mr. Roosevelt had driven China into the fiscal arms of Britain. Sir Frederick Leith-Ross of the British Exchequer has been in China for some weeks. He is rumored to have made available ?10,000,000 as a "monetary re-organization loan" to Nanking, with Chinese currency to be linked with the pound sterling. This last...